Russell Investments Group Ltd. Sells 11,057 Shares of Collegium Pharmaceutical, Inc. $COLL

Russell Investments Group Ltd. decreased its holdings in shares of Collegium Pharmaceutical, Inc. (NASDAQ:COLL) by 81.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,592 shares of the specialty pharmaceutical company’s stock after selling 11,057 shares during the period. Russell Investments Group Ltd.’s holdings in Collegium Pharmaceutical were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of COLL. Janus Henderson Group PLC grew its position in shares of Collegium Pharmaceutical by 319.4% during the 4th quarter. Janus Henderson Group PLC now owns 291,388 shares of the specialty pharmaceutical company’s stock valued at $8,341,000 after acquiring an additional 221,903 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Collegium Pharmaceutical during the 4th quarter valued at $3,489,000. Massachusetts Financial Services Co. MA grew its position in shares of Collegium Pharmaceutical by 18.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 713,854 shares of the specialty pharmaceutical company’s stock valued at $21,309,000 after acquiring an additional 109,655 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Collegium Pharmaceutical during the 1st quarter valued at $3,085,000. Finally, Nuveen LLC bought a new stake in shares of Collegium Pharmaceutical during the 1st quarter valued at $2,674,000.

Collegium Pharmaceutical Stock Up 1.1%

COLL opened at $39.59 on Thursday. The firm has a 50-day simple moving average of $33.87 and a two-hundred day simple moving average of $30.50. Collegium Pharmaceutical, Inc. has a 52 week low of $23.23 and a 52 week high of $42.29. The company has a market capitalization of $1.25 billion, a PE ratio of 38.07 and a beta of 0.63. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 3.27.

Collegium Pharmaceutical announced that its board has authorized a share buyback program on Monday, July 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the specialty pharmaceutical company to purchase up to 15.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Collegium Pharmaceutical

In related news, Director John Gordon Freund sold 11,659 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $34.36, for a total value of $400,603.24. Following the completion of the transaction, the director owned 23,129 shares of the company’s stock, valued at approximately $794,712.44. This trade represents a 33.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas B. Smith sold 17,478 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $38.42, for a total transaction of $671,504.76. Following the completion of the transaction, the executive vice president directly owned 70,264 shares of the company’s stock, valued at approximately $2,699,542.88. The trade was a 19.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,393 shares of company stock worth $2,286,330 over the last 90 days. Company insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. HC Wainwright upgraded shares of Collegium Pharmaceutical to a “strong-buy” rating and set a $44.00 target price on the stock in a research note on Monday, August 11th. Piper Sandler restated a “neutral” rating and set a $37.00 target price (up previously from $36.00) on shares of Collegium Pharmaceutical in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Collegium Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $42.33.

About Collegium Pharmaceutical

Collegium Pharmaceutical, Inc, a specialty pharmaceutical company, engages in the development and commercialization of medicines for pain management. Its portfolio includes Xtampza ER, an abuse-deterrent, extended-release, and oral formulation of oxycodone for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment; Nucynta ER and Nucynta IR, which are extended-release and immediate-release formulations of tapentadol, indicated for the management of acute, severe, and persistent pain; Belbuca, a buccal film that contains buprenorphine; and Symproic, an oral formulation of naldemedine for the treatment of opioid-induced constipation in adult patients with chronic non-cancer pain.